June 5 (Reuters) - AusTex Oil Ltd AOK.AX :
* CO AND ITS U.S. SUBSIDIARIES INITIATE VOLUNTARY CHAPTER 11 PROCEEDINGS IN U.S.
* HAS BEEN UNABLE TO SUCCESSFULLY NEGOTIATE A SATISFACTORY SETTLEMENT IN RELATION TO PREFERENCE SHAREHOLDER LITIGATION
June 5 (Reuters) - AusTex Oil Ltd AOK.AX :
* CO AND ITS U.S. SUBSIDIARIES INITIATE VOLUNTARY CHAPTER 11 PROCEEDINGS IN U.S.
* HAS BEEN UNABLE TO SUCCESSFULLY NEGOTIATE A SATISFACTORY SETTLEMENT IN RELATION TO PREFERENCE SHAREHOLDER LITIGATION